Overview of This Study:
This study involved four major activities in estimating the current size of the clinical trial supplies market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Market Size Estimation:
Both top-down and bottom-up approaches were used to estimate and validate the total size of the market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
# The key players in the industry have been identified through extensive secondary research
# The revenues generated by leading players operating in the clinical trial supplies market have been determined through primary and secondary research
# All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
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Expected Surge in Revenue:
The clinical trial supplies market is projected to reach USD 2.5 billion by 2025 from USD 1.7 billion in 2020, at a CAGR of 7.8%. The growth of this market is majorly driven by the increasing R&D expenditure in pharmaceutical and biopharmaceutical companies and the globalization of clinical trials & harmonization of regulations.
Logistics services segment to account for the largest share of the clinical trial supplies market during the forecast period
Based on service, the market is segmented into logistics; distribution, storage, and retention; packaging, labeling, and blinding; manufacturing; comparator sourcing; and solutions. The logistics services segment is expected to dominate this market during the forecast period owing to the globalization of clinical trials and the increasing number of clinical trials involving temperature-sensitive products. However, the comparator sourcing services segment is estimated to grow at the highest CAGR during the forecast period.
Key Questions Addressed by the Report
# Where will all these developments take the industry in the mid-to-long term?
# What are the recent trends affecting the market?
# Who are the key players in the market, and how intense is the competition?
# Which region is a lucrative market for clinical trial supplies?
Phase III segment to account for the largest share of the market, by phase, in 2020
Based on phase, the market is segmented into phase I, phase II, phase III, phase IV, and BA/BE studies. The phase III segment is expected to account for the largest share of the market in 2020 and is estimated to grow at the highest CAGR during the forecast period. The large share and high growth of this segment can be attributed to the fact that phase III trials are the most expensive, time-consuming, and difficult to design and run.
Recent Developments:
# In December 2019, Catalent launched the New CTSuccess Service to guide sponsors toward smarter clinical trial supply planning.
# In May 2019, Catalent completed the USD 1.2-billion acquisition of Paragon Bioservices, Inc., a leading viral vector development and manufacturing partner for gene therapies.
# In September 2019, Catalent announced that it would invest USD 9 million in a new clinical supply facility in San Diego, due to open in the summer of 2020.
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North America is the largest regional market for clinical trial supplies
Currently, North America is the largest regional market for clinical trial supplies, and this trend is expected to continue during the forecast period of 2020 to 2025. The presence of well-established CROs and the high and growing investments in R&D by pharmaceutical and biopharmaceutical companies are the major factors responsible for the large share of North America in the global clinical trial supplies market. However, owing to the presence of a larger patient population and less-stringent patient recruitment regulations, the Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
Key Market Players:
The prominent players operating in the global clinical trial supplies market include Alamc Group (UK), Catalent, Inc. (US), PCI Services (US), Parexel International Corporation (US), Sharp Packaging Services (US), Biocair (UK), O&M Movianto (US), KLIFO A/S (Denmark), and Thermo Fisher Scientific, Inc. (US).
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Clinical Trial Supplies Market report added by Value Market Research, offering growth, trends, and forecast for each segment along with regional and country analysis.
The study has done with respect to market share, size, outlook, estimation and forecast period 2021-2027.
Further, this report also highlights the regional and country-level market analysis.The clinical trial supplies market is vast, with many local and global players.
the key leaders follow different strategies to augment their market position, such as mergers, contracts, extending product portfolio, expansions, acquisitions, and product innovations to enhance their market share at the global level.
The known players included in the report are PAREXEL International Corporation, KLIFO A/S, Movianto GmbH, Biocair International Ltd., Almac Group Ltd, Patheon Inc., Thermo Fischer Scientific, PCI Services, Sharp Packaging Services, and Catalent Pharma Solutions.Get more information on "Global Clinical Trial Supplies Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/clinical-trial-supplies-market/download-sampleMarket SegmentationThe entire horse riding apparel market has been sub-categorized into phase, services, therapeutic area, and region.
The report provides an analysis of these subsets with respect to the geographical segmentation.
